International and strategic marketing Essay Example | Topics and Well Written Essays - 4000 words

International and strategic merchandise - Essay ExampleThis paper describes the rise of the recorded-music assiduity, the matter of disruptive technologies and the effect of this flicker on the marketing strategies of todays recording application companies. The marketing strategies are discussed in perspective of the 7Ps of marketing. 3Ps are identified and analysed as potential channels for implementing marketing strategies that could ebb the threat to recording industrys digital music sales posed by impoverished and illegal peer-to-peer (P2P) file-sharing websites. Table of Contents Executive summary 1 Table of Contents 2 2.0.Marketing strategies in the Music Industry 6 2.1.Product 7 2.2.Price 8 2.3.Place 8 2.4.Promotion 8 2.5.People 9 2.6.Process 10 2.7.Physical grounds 10 2.8.Section summary 10 3.0.Topics impacting the industry 11 3.1.Changing process using partners and intermediaries 11 3.2.Promoting legitimate digital music using merchandise and concert business 13 3.3. Repackaging physical evidence 14 4.0.Conclusion 15 References 16 1.0. Introduction According to the British Recorded Music Industry, the music industry can be broadly categorised into four spheres song writing and publishing, recording, live music and artist management (BPI 2012). In all these orbits there are many different organisations and individuals performing different roles and earning their living. Currently the large plowshare of the industrys value is generated and controlled by the recorded music and live music sectors. The recorded sector is dominated by four major corporate labels that comprise of several smaller companies that focus on different regions and markets. These four conglomerates are Sony Music Entertainment, Universal Music Group, EMI Music and Warner Music Group (The economist 2008). The live music sector is dominated by Live Nation Entertainment in the get together States. The growth of the recorded music sector epitomised by the rise of music labels towards the end of the 20th light speed led to the recording sector being synonymized as the music industry (Wikipedia 2012). The recorded music sector grew largely due to the ability of the music labels to efficiently and cost-effectively fulfil the several stages in the process of pitiful music from artist to consumer. The major record labels are vertically integrated businesses. The stages in the recording industry are Artists and Repertoire (A&R) involves finding new acts recording music involves composition, production and licensing of copyright manufacture of automatonlike recordings e.g. CDs and vinyl music distribution and logistics marketing and promotion and retail activities (Fleming & E. G. Hughes 2002). Some of the factors that make music labels remunerative are economies of scale which spreads overheads over a wider revenue base diversity of artists which enables them to maintain a beauty flow of releases and breadth of music catalogue. However, in the 21st centu ry, the emergence and growth of three technologies led to the disruption experienced in the broad music industry in general, but mostly in the recorded-music industrys value chain. These three technologies are digitalization, data compression and the Internet (Dolata 2011). Digitalization of music made it easy to make copies